https://www.miningweekly.com

Gold production relatively steady for Ramelius

17th October 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Gold production for ASX-listed Ramelius Resources fell during the quarter ended September on the back of a slightly lower gold grade and a five-day planned maintenance shutdown at its Mt Magnet gold mine, in Western Australia.

During the quarter under review, Ramelius produced 22 535 oz of gold, compared with the 25 422 oz of gold produced in the previous quarter. The Mt Magnet operation produced 18 575 oz of gold during the quarter, while the Burbank Mill project produced a further 3 960 oz of gold.

“We were pleased to see that in a quarter where the gold price received averaged A$1 380/oz, Ramelius was also able to marginally increase our cash and gold on hand, signifying that the Mt Magnet operations is indeed displaying the improved performance we have claimed,” said Ramelius CEO Mark Zeptner.

“In fact, Mt Magnet is forecast to have a better quarter again in the December 2014 quarter, giving the company a sound footing upon which to make any decisions related to the Vivien project funding.”

The Mt Magnet operation was expected to produce between 19 000 oz and 21 000 oz during the December quarter, and a full-year production of some 74 000 oz.

The Vivien project, meanwhile, would require an expected A$20-million capital spend to deliver about 109 000 oz of gold over a 30-month mine-life.

“Further to this, the Kathleen Valley project, with its low start-up cost, can be self-funded assuming it is ready for development in the June 2015 quarter,” Zeptner said.

The Kathleen Valley tenements contain a Joint Ore Reserves Committee-compliant resource of 130 000 oz over three deposits.

Edited by Creamer Media Reporter

Comments

Showroom

Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.113 0.143s - 88pq - 2rq
Subscribe Now